I love the fact that I don’t have to manage the property as with rentals and can invest from anywhere.

Allocate equity based on contributions: you provide the $235K HELOC and management, while your former boss contributes renovation expertise and labor.

Thx for sharing and congrats that is a ton of success, @Eric BilderbackLike all investments there is risk to manage.  

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

Starting out in real estate can feel overwhelming, but breaking it into clear steps makes it manageable.

You're not in the position to be a cash buyer...as a former wealth manager, it's simply not a good play for you for many of the reasons stated above and more.  

My point above is how solid are your financial and management plans?  

Explore remote investing options like turnkey properties or out-of-state rentals with property managers, and use summers or gap years to network, analyze deals, and gain hands-on experience.

I manage 400 rentals and the most significant claim ever filed was a kitchen fire that cost $20,000.

@Daniel Cacho I’m 35 years old, have been in the game for over a decade, own 26 doors, run a property management company with 350+ units, and operate a realty brokerage with a small team of agents.